SIASUN(SZ:300024) Shang Hai Zheng Quan Bao·2025-11-16 17:55Group 1: Industry Overview - The embodied intelligence industry is entering a development opportunity period, with humanoid robots moving towards commercial viability and heterogeneous robots already being implemented in various scenarios such as sanitation and healthcare [2][3] - The humanoid robot industry is at a critical point transitioning from "technically feasible" to "commercially feasible," with significant applications in factories and commercial settings like supermarkets and 4S stores [3][4] Group 2: Market Projections - By 2025, humanoid robot shipments in China are expected to reach tens of thousands, while leading overseas manufacturers are projected to ship thousands [3][4] - If the average price of humanoid robots is assumed to be 200,000 yuan per unit, a sales volume of 1 million units could create a market worth approximately 200 billion yuan [4] Group 3: Application Scenarios - The initial application of humanoid robots is expected to follow a path from commercial scenarios to industrial and eventually household environments, with commercial settings like shopping malls and hotels being the first testing grounds [5] - Heterogeneous robots are already being deployed in community services such as cleaning and security, demonstrating their ability to integrate into real-world scenarios before humanoid robots achieve full maturity [6][7] Group 4: Competitive Landscape - The domestic humanoid robot industry has formed a cluster effect, benefiting from a complete supply chain and the potential for cost reduction in core components [7][8] - The development of AI capabilities in robots allows for the automation of simple tasks, particularly in high-risk areas like electrical inspections and manufacturing logistics, which could lead to significant labor cost savings [8]